Andrew Light comments on the potential for setting carbon prices in the U.S. and Canada. This story is featured in The Marketplace.
Canadian Prime Minister Justin Trudeau announced this week that Canada will institute a national price on carbon emissions. Doing so would help it reach goals set by the Paris Climate Agreement.
With the goal of reducing carbon emissions by 30 percent from 2005 levels, the plan allows provinces to decide how to reduce their own emissions, either through a carbon tax or a cap-and-trade system. Failure to do so would result in a government-mandated system.